INGLES SAYS EXPANSION HURT 3RD-QUARTER PROFITS

BLACK MOUNTAIN, N.C. -- Ingles Markets here said an aggressive store expansion program had a negative impact on earnings for the third quarter and nine months ended June 24.For the quarter, the 181-store company reported net income of $4.5 million, down 0.4% over the same period last year. For the year-to-date, net income was $10.6 million, down almost a third from the first nine months of 1994.Meanwhile,

BLACK MOUNTAIN, N.C. -- Ingles Markets here said an aggressive store expansion program had a negative impact on earnings for the third quarter and nine months ended June 24.

For the quarter, the 181-store company reported net income of $4.5 million, down 0.4% over the same period last year. For the year-to-date, net income was $10.6 million, down almost a third from the first nine months of 1994.

Meanwhile, net sales increased 10.8% to $347.8 million in the third quarter and 1